Ritholtz Wealth Management Acquires Shares of 2,172 FirstService Corporation (NASDAQ:FSV)

Ritholtz Wealth Management bought a new position in shares of FirstService Corporation (NASDAQ:FSV - Free Report) TSE: FSV during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 2,172 shares of the financial services provider's stock, valued at approximately $360,000.

Several other hedge funds and other institutional investors have also made changes to their positions in FSV. Vista Finance LLC grew its stake in FirstService by 7.0% during the 1st quarter. Vista Finance LLC now owns 2,000 shares of the financial services provider's stock worth $332,000 after buying an additional 131 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in FirstService by 11.3% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 2,452 shares of the financial services provider's stock worth $407,000 after buying an additional 248 shares during the last quarter. Fifth Third Bancorp grew its stake in FirstService by 23.0% during the 1st quarter. Fifth Third Bancorp now owns 769 shares of the financial services provider's stock worth $128,000 after buying an additional 144 shares during the last quarter. Avanza Fonder AB grew its stake in FirstService by 100.0% during the 1st quarter. Avanza Fonder AB now owns 5,000 shares of the financial services provider's stock worth $830,000 after buying an additional 2,500 shares during the last quarter. Finally, Fenimore Asset Management Inc grew its stake in FirstService by 0.6% during the 1st quarter. Fenimore Asset Management Inc now owns 100,577 shares of the financial services provider's stock worth $16,691,000 after buying an additional 570 shares during the last quarter. Institutional investors and hedge funds own 69.35% of the company's stock.

FirstService Trading Up 1.8%

Shares of NASDAQ:FSV traded up $3.10 during midday trading on Monday, reaching $175.84. The company's stock had a trading volume of 421,902 shares, compared to its average volume of 109,519. The firm has a market cap of $7.99 billion, a price-to-earnings ratio of 60.84 and a beta of 1.01. The company has a quick ratio of 1.94, a current ratio of 1.94 and a debt-to-equity ratio of 1.09. FirstService Corporation has a 1 year low of $149.20 and a 1 year high of $197.84. The business has a 50 day moving average price of $174.71 and a 200 day moving average price of $175.56.

FirstService (NASDAQ:FSV - Get Free Report) TSE: FSV last announced its quarterly earnings data on Thursday, April 24th. The financial services provider reported $0.92 EPS for the quarter, beating analysts' consensus estimates of $0.84 by $0.08. The business had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.28 billion. FirstService had a return on equity of 17.49% and a net margin of 2.46%. The business's revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.67 earnings per share. Research analysts forecast that FirstService Corporation will post 5.27 EPS for the current year.

FirstService Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 8th. Shareholders of record on Monday, June 30th will be given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date is Monday, June 30th. FirstService's dividend payout ratio (DPR) is presently 38.06%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on FSV. Scotiabank lowered their target price on FirstService from $217.50 to $210.00 and set a "sector perform" rating on the stock in a research note on Thursday, April 17th. Wall Street Zen downgraded FirstService from a "buy" rating to a "hold" rating in a research note on Thursday, March 27th. Finally, TD Securities lifted their target price on FirstService from $198.00 to $200.00 and gave the company a "hold" rating in a research note on Wednesday, May 7th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $208.40.

FirstService Company Profile

FirstService Corporation, together with its subsidiaries, provides residential property management and other essential property services to residential and commercial customers in the United States and Canada. It operates through two segments: FirstService Residential and FirstService Brands. The FirstService Residential segment offers services for private residential communities, such as condominiums, co-operatives, homeowner associations, master-planned communities, active adult and lifestyle communities, and various other residential developments.